My thoughts on Bitcoin long-term, as well as mid- to short-termLONG-TERM / THE BIG PICTURE:
Regarding the big picture, we couldn’t be more bullish. We’re currently fighting our way through the cycle as usual—despite the fact that this cycle has had way too many chop phases, flushing out far too many participants.
Just a few weeks ago, we got our bullish crossover on the weekly MACD—a signal that has triggered a major BTC rally every single time this cycle.
At no point in this cycle has #BTC been overheated. The blow-off top is still coming.
LOCAL PRICE ACTION:
CRYPTOCAP:BTC remains in this vertical ascending channel and remains macro bullish what imo is another huge re-accumulation range lasting more than 200 days since November, that will lead to an impulsive breakout TO THE UPSIDE in the weeks to come
MACRO LANDSCAPE:
Due the last crash we potentially got an bulllish structure, wich if the price breaks the high at $110.000 is confiraed and can bring us to 120k on #Bitcoin
On the lower TF we currently see an oversold RSI + a bounce from the 0.667 level
RECOMMENDATION:
Watch the high at 110k and the low at 100k, we have to break either one of these 2 levels.
Have an eye on the current conflict with israel & iran and dont forget the FOMC meeting tmwr, where we can expect some important news due the current situation
Either way, I'm long and mid-term bullish despite the current accumulation by long-term holders (which just peaked)...
Always watch the big picture from above - maintain perspective and don't focus too much on smaller timeframes...
But most importantly: Survive.
Thanks for reading, let me know your thoughts about the current market situation & price action👇
